Tether-backed Chilean crypto exchange Orionx is freezing withdrawals and beginning permanent closure after a forensic audit revealed more than $7 million in customer assets were transferred to wallets outside its control. Tether invested in Orionx in June 2025, following an earlier investment by affiliated exchange Bitfinex in 2023. Chile’s financial market regulator (CMF) said it cannot oversee the wind-down or compel the exchange to return customer assets, leaving users without a regulatory backstop. Orionx filed a criminal complaint on September 2 against former executives, but no repayment date has been disclosed.
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